tv The Willis Report FOX Business September 25, 2012 6:00pm-7:00pm EDT
his possession, god, bless you. >> it's not like the snuggie. melissa: we will see you back here tomorrow. "the willis report" is coming up next. >> tonight, as president obama takes to the international stage, mitt romney and president obama explain why they are the guys to economy and turn it around. welcome to "the willis report."
>> good evening from everyone. i am cheryl casone and for gerri willis. president obama into the podium at the united nations to defend his foreign policy. all eyes are on him. anti-american protests continued to rage on. the president making clear that he is hopeful enact let us remember that this is a season of progress. for the first time in decades, nations and libyans and egyptians voted for new leaders that were credible, compatible and fair. cheryl: has a change to something more dangerous? tonight, we talk to our expert from the hoover institution. today, he definitely handled the issue of the middle east. but critics say he has made too many missteps come back. >> he really didn't. president obama has to, begin
with, changing his story. his administration described the crime that had taken place in benghazi is related to the video. it wasn't video. it was an act of terrorism. this story has changed. this is the background. so much for the rest is a good deal of revision of history. cheryl: you think the critics can get past the fact that he is not meeting with benjamin netanyahu or any other foreign leaders. he is going on talk shows. he is on "the view." he is going to dinners here in new york. is that really an appropriate thing to do during the general assembly when you have a crisis in the middle east? >> when you appear on "the view", you don't care about international diplomacy. a long time now, everything has been tethered to his campaign.
"the view" gets him voters. we know that. president netanyahu does not vote in this election. so, really, i think you can describe the foreign policy of barack obama as a foreign policy of david axelrod. it's all tied to a selection. cheryl: you mentioned his example. back in 2009 he made a big speech in cairo, egypt. it was big hope is when the friends of the muslims. you said quote that they need to be understood and are priced in the way of a relationship our relationship with them. what does that mean? >> and president obama adventured into the middle east, he seemed like this man who apologize for the mistakes of george w. bush. instead of coming in as an american president, he came in and there was this big illusion that he had muslim relatives and he lived in indonesia and he
understands their world. people don't really know this. he lived by the public opinion polls by these two surveys but said so many people disapprove of america. cheryl: the most recent rasmussen poll. the u.s. relationship over the past four years with him, 45% say it has absolutely got more spread 31% is a really good. only 18% say it has gotten better. >> even in this episode, in this crisis, the obama decision is really disgraceful. we bought time on pakistani television stations who apologize for the video. why should we apologize for the video? the idea that a government is apologizing for this video is
lamentable. cheryl: isn't it true, but that is seen as a weakness when you apologize for anything. as an opponent and not an ally, the president said today. doesn't that weaken our foreign policy? >> pretty much, i think no one really fears the united states in that region. they have basically discounted the american president and he goes to the united nations and says that bashar al-assad -- he said that 13 months ago, he is still saying the same things about syria. we have done nothing about this eerie intensity and things are what they seem to us. cheryl: one thing he has done with the issue of syria, he has put hillary clinton as the face. mostly she is not going to be a secretary of state. do they know that in the muslim world? do they see her as a credible
person? >> i'm glad that you took us there. secretary of state quinten stop in south africa and there was a scene of her cutting a rug on a dance floor in south africa. people look at this as ridiculous. secretary clinton has been running the clock on the syrian people. we do nothing about syria. if we do want to help them, we would on them. we went with them. we would come to the rescue. we just want them to wait. cheryl: but maybe the russians to that, doctor. maybe the russians are stepping into syria. >> exactly. the friends of the sheer math are reliable. but iran and russia and hezbollah in beirut -- they are friends with the friends of the syrian people are not. cheryl: basically sharon said
israel should be eliminated yesterday. but at the same time, netanyahu telling america that you have to draw the red line. is that a concern? israel and iran? >> they did not change. then we threaten them on time after another. the iranians are hell-bent on acquiring nuclear weapons. the iranians don't think that they will be hit. there are two things that are too big to be struck. this is the opposite principle. if we're going to take on the iranians, we should be welcomed. this would be the placed to defeat the iranians. cheryl: the iranians are investing about $6 billion and that is a big financial stake in
all that. doctor, thank you very much. great to have you on. cheryl: well, we want to know all about what you think. here's a question for you. president obama says there is a season of progress in the middle east. love in the gerriwillis.com. vote on the right-hand side of your screen. i will share the results of the show tonight. coming up tomorrow morning green cars driving into the red with taxpayer money. is it time to hit the brakes? and the romney reboot going on to her. he gets the buckeye state. we also talk about greece
underway. the mitt romney kicking off his bus tour in ohio with paul ryan at his side. the elephant in the room, the revote. can this reboot happened before romney runs out of time? let's talk about this reboot. do you think that he is sending that this reboot is coming too soon or too late? is of the wrong message? it means that romney is in trouble? >> i don't think it necessarily means he's in trouble. although a lot of people are saying that. it is mainly a matter of whether the message that he has been conveying these groups of people he is talking to in the swing states is the right one or not. i have had misgivings about it. i spent sunday looking at videotape of the stump speech that he gave in las vegas. i think it was last thursday. this was part of the review. and he said to have a plan to re-energize the american economy. the first thing we're going to do is crack down on cheaters.
meaning china. the second were going to do is pursue energy independence. i'm sitting there thinking, well, those may be legitimate issues, but i don't think those are the top two things i might of the american people. but the american people are sitting out there and asking for, i think, explanations on why the economy is so bad. someone said it was the economy, stupid. cheryl: right. if you look at most likely voters, we used to see that romney had the president. that has actually changed in the recent poll from the ap. now it is 50%. only 41% trust the president and 41% trust that romney. what happened? >> i think that the problem is that mitt romney has not taken his message deeply enough. the issue is the economy. a% unemployment.
they stayed over 9%, all through 2010 and 2011. that's a long time for the american economy to have unemployment at that level. i think, and we all know that, we all know that, and i think with the american voters are asking for is someone to explain to them why have barack obama's policies contributed to that. i don't think it is sufficient for mitt romney to assert that he has handled it well. cheryl: romney came out with a housing plan, that includes a cover sheet. honestly, people are looking for more details from him. >> as an example, the recession ended in june of 2009. that is when unemployment was heading towards my .5%. it was time for the presidency to do something to address this skyrocketing unemployment.
what did barack obama do? introduced the affordable care act. obamacare. and he spent 18 months legislating on a piece of legislation that whatever you may think about has nothing to do with employment in the united states. that is what he chose to do. it seems to me that that is the sort of connection that mitt romney ought to be making between the president and the weak economy. cheryl: i'm not so sure that the president cares at this point. so today he was on "the view." talking to the ladies of "the view." >> we can survive a lot. but the american people don't want to survive. we want everyone to thrive. >> i just have a different vision about how we grow an economy. cheryl: okay. >> her campaign politics. he was on the letterman show the other night and this is about turnout. it is about turning out young people and "the view" is about turning out women and making women feel strongly about them. turnout is everything in the election. he has to give voters who are
used to barack obama the president to go to the polls. romney's voters are going to show up and vote no matter how video. cheryl: then you have this tax return from romney that we got last friday. that's when he favors when he finally came out? when you look at the average overtime, he did pay 20%. >> he gave a tremendous amount of money to charity. i don't think that hurt him. as i said, i think he has to have the economy and tried to explain to people why they are anxious. the president has been feeding on those anxieties by saying that i understand this. it was george bush's fault, and now i'm going to hit you block subsidies for education. housing and support. and he plans to propose something that addresses their
anxieties. mitt romney, in that debate next wednesday night, it's going to have to take this subject much deeper than he has so far. cheryl: if you do smart committee would bring up the subject of unemployment. obama is tweeting about football season. >> 6% unemployment. cheryl: exactly. thank you very much. coming up at the bottom of the hour, despite all of your green going into electric cars, they are still not taking off. we'll have the latest for you. and the big move by the fed's. stocks are soaring, but not everybody is on board with qe-3. an exclusive interview with the just coming up next.
cheryl: qe-3. my next guest is concerned about two things. we have interview coming up next. and waiting in line. i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps.com, you can print real u.s. postage for all your letters and packages. it gives you the exact amount of postage you need the instant you need it. can you print only stamps? no. first class. priority mail. certified. international. and the mailman picks it up. i don't leave the shop anymore. [ male announcer ] get a 4-week trial plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go to the post office again.
cheryl: slamming the federal reserve's recent amount of easing or qe-3. my next guest says it puts the fed's credibility at risk and it won't help the jobs situation. senior washington correspondent peter barnes sat down with him. reporter: for one thing, he is very skeptical. another round of quantitative easing, it will actually bring down interest rates. that may not be very helpful as far as getting economic growth going and getting the
unemployment rate down. take a listen. >> to compare the effects in 2000 and 2009 with what happens today, when markets are dysfunctional, there's not a liquidity problem, you can just apply the findings from qe-1 and think that we're going to get the same effects on interest rates today that we did in 2009. born in qe-2 when we were trying to deal with inflationary figures. the environment is different. we just can't take all of that and apply it widely. reporter: created by the elections in and the fiscal clip at the end of the year, also the debt crisis mirror. cheryl: all right, peter burns, thank you very much. if you are fired up about this or any other issues on the program, send gerri an e-mail at cherry at fox business.com. >> coming up on "the willis report", an electric car that
nobody wants to purchase. we spend billions of dollars on your dime. and housing cop and sent prices skyrocketing. would this mean for the market? also, remember when free checking accounts were almost everywhere? not anymore. our financial advisor breaks down what it's costing you and if the services are gone for good. we are on the case next on "willis report"
rachel quit the corporate grind to start her own interior design business. she's got a growing list of clients she keeps in touch with using e-mail marketing from constantcontact.com. constantcontact is easy and affordable. it lets her send out updates and photos that showcase her expertise and inspire her customers for only $15 a month. [ dog barking ] her dream -- to be the area's hottest interior design office. [ children laughing ] right now, she just dreams of an office. get a free trial at constantcontact.com.
cheryl: there has been a slew of not so good green car headlines in the news. most recently, general motors. discounting the chevy volt by $10,000 or a quarter of the sticker price in order to boost sales. this on top of that $7.5 billion million dollars taxpayers will pay her the next seven years to subsidize these cars. my next guest says this is all just tip of the iceberg. kenneth green is an american
enterprise institute scholar. what is next in the green car evolution? >> well, not only has the federal government subsidizing people to buy them, but states that on their own subsidies. states have about eight subsidies for hybrid cars and direct tax rebates to the ability to use carpool lanes to being exempt from things like that. the one this is going to be costly. at the same time from the government would tell you that this is a good thing because it will steer people in the direction of these cars and eventually it will take hold and everyone will go electric. >> i say that's a very old song we have heard many times before i first started writing the 17 years ago in the l.a. times.
cheryl: let's talk about the electric cars over all. a colleague of mine came on during the day. yesterday, he actually said this is great for tesla. these are 100,000-dollar cars. they are great. the company, free market capitalism swindler. tesla will survive and the others will fall by the wayside. when you make of that? >> even tesla has been getting a lot of support. how many people want to buy 100,000-dollar sports cars? >> i think leonardo dicaprio or somebody like that. [laughter] >> they are great if you actually drive up in your limo and you stop a couple of blocks away from the red carpet, and
the drive back to your limo again. but they're not for normal people who have normal budgets and guidelines. cheryl: don't you think it will really be about the hybrids? is that without american public is going? support a hybrid vehicle? >> i do not support subsidies. nobody buys them. i think hybrids have a real place in the market. even then, much smaller than what people think and growing slowly. a lot of people are buying second hybrids and they found out that they are more expensive to maintain and repair. people are always underestimating the internal combustion engine and you get more economic information over time. things that can still increase mileage that are coming down the pipeline as well. i would not bet on it. cheryl: in regards to electric cars, is that the mileage or what is that?
>> well, chevy volt was almost twice the price of the car that is comparable in size and performance. a regular gasoline car. number one, they are expensive. number two, you'll get a payback in less gasoline prices are very high. you can look at repaying your investment. the public understands you get performance out of regular vehicles. they don't have to limit the use of air-conditioning air conditioning and heating, they can go kill. they are not really worried about having their car batteries die prematurely. all of these things are problems with electric cars. cheryl: yes no, is the chevy volt dead american in? >> and instead until, it's on life support. if the government is willing to keep pumping money into it, you
can create a postmerger with enough money. but sooner or later they will run out of people's money. cheryl: kenneth, very interesting take from you. from greeting cards to driverless cars, california governor jerry brown. paving the way for a bill that establishes safety regulations for the people. it took place at will's headquarters. developing the driverless technology with gps systems to operate. google's driverless cars have lot more than 300,000 miles already. the government seems to have a tent and almost everything these days, including your child's food. michele obama pushing a new health initiative in public schools. feels like hummus and broccoli and salad. kids are creating a market for
lunch, joining me now is the founder and ceo of the education action group foundation. why are we wasting money on these programs? >> we have bureaucrats who believe that they know what is best. they pass these regulations but what government schools will feed children. what we are seeing is a culture shock, kids are used to hamburgers and hot dogs and chicken nuggets and those sorts of things, and now they are being force-fed hummus and all of the other things you're talking about. cheryl: here is the problem here is that the government's responsibility were the parents responsibility to deal with the
epidemic? >> no, it is the parents responsibility. >> we as a society need to step up and say that we need to fix this. and we needed to keep kids in soccer programs are ways to get kids to exercise more. the top-down mentality is not working. what we are seeing our kids that are getting 850 calories for lunch and are supposed to go out to the ballgame and football practice or something like that and it's just not working. cheryl: 70% of kids in wisconsin boycotted cafeteria food on monday. why is this so alarming now versus what we were doing when we were children? >> well, basically, kids don't
want to eat their food. basically what they're doing is they are saying an awkward and awkward eat this. they are smuggling in food. we wrote about the example where kids are actually smuggling and chocolate syrup because chocolate malt is now banned and they are selling it. they are selling it on the streets. kids are thinking about ways to make money. but on the other hand, it is the top-down mentality that is not working. the usda, congress and the administration, need to fix this problem. cheryl: throwing more money at the problem. i would like to ask you about the black market is getting pretty smart about. >> that's right. it's great. should not be taking place because it's not necessary. what we keep hearing is that we just need to spend more money. we hear that all the time.
we just need more money in order for graduation rates to improve, but if you look at schools in washington dc, new jersey, where some schools spend over $26,000 per student, spending more money is not fixing the problem. >> you basically have said if mitt romney wins the election, these regulations will pose even more problems. what did you mean by that? >> what i mean is that people are getting comfortable with the idea of going to school and having breakfast given to them. having once given to them. other government programs, making it very comfortable for parents to basically give away the responsibility. if we elect politicians who go to washington dc and say look at the debt and deficit and say that we can't continue this anymore, we have to cut back on these programs, what we are going to see is a competition among the takers and the makers
and greece in the process we have seen in europe, i am afraid, will come to america. cheryl: cheryl: kyle, thank you so much. thank you, coyote. meanwhile, let me ask you this. the circuit have what it takes to succeed in college? more than half of high school graduations do not. that is according to a new college survey. the sats failed to combine the indicator of kids to succeed. it should be called action. coming at the end of the hour, we are looking at how to fix these problems at an early age. also, still to come, help is on
now we need a little bit more... a little bit more vanilla? this is great! [ male announcer ] at humana, we believe there's never been a better time to share your passions... because the results... are you having fun doing this? yeah. that's a very nice cake! [ male announcer ] well, you can't beat them. [ giggles ] ohh! you got something huh? whoa... [ male announcer ] humana understands the value of spending time together that's a lot of work getting that one in! let's go see the birdies. [ male announcer ] one on one, sharing what you know. let's do it grandpa. that's why humana agents will sit down with you, to listen and understand what's important to you. it's how we help you choose the right humana medicare plan for you. because when your medicare is taken care of, you can spend more time sharing your passions. wow. [ giggles ] [ male announcer ] with the people who matter most. i love you grandpa! i love you grandma! now you're a real fishman. [ male announcer ] humana.
cheryl: great news for housing tonight. market as signs of strengthening. in the nation's strengthening. in the nation's 20 largest city, up more than 1.5%. the highest in two years. as the market finally seeing a recovery? let's ask ceo of lending tree.com. it's a tough question. when you make of this? is it over? >> is it that? >> i am cautiously optimistic but i think that we have a long and bumpy road to recovery. what we are seeing at lending tree is that rates are low but it's still difficult to get a loan and credit remains tight. certainly signs of life. cheryl: a man came on today and
said things are better, and you are saying not so fast? >> rates are low and people can refinance. but the problem is, lending restrictions still remain very tight. it is fundamentally underlying related to freddie mac and fannie mae. people are credit loans from years ago or when you want them, now that the government is doing some interesting things with the regulator of fannie mae and freddie mac, try to make sure that when you have that insurance from fannie and freddie, the guarantee, but that is a real guarantee. that will have a positive impact. cheryl: that is the reason we keep propping them up. fannie mae and freddie mac. let's talk about the refinance environment. a lot of viewers having a tough time. they want to do it because rates are incredibly low. are things getting any easier
right now? >> right now, i don't think that they are. however, one thing that will make it easier is that when you have of situations where we're getting appraisals, it will be easier to get a property appraiser. what a situation where foreclosed homes were sitting on the market and were dragging down property values, we are seeing investors have bought up a lot of good lower-priced homes, and that will certainly help the market's. cheryl: what about cash bills? it seems that there's a lot of investment capital, investing in property, 456 homes at a time. is that still happening? forty think that open? >> it is absolutely happening. a lot of capital moving into the area. still only seeing a pretty values back to 2003 levels. you're not seeing consumers, but definitely investors have moved in. that's definitely property values. underlying at the end of the
day, the consumer market is related to the jobs market and two prospects of the economy and income, except to buy a home if you're not sure. cheryl: a lot of american businesses have been hanging onto cash. people are just starting to let go of things a little bit. >> i agree with that, but i think it's low. i worry that we are moving into a seasonal slow market. we are just coming off the visitors a lot of uncertainty among banks and mortgage companies about the shape of future regulations, still causing credit to be very tight. >> i will save, housing has been fascinating. you are in the middle of it. cheryl: thank you so much. when we come back, we're going to have the top five highest paid tv actors. did your favorite nicolas? and free checking accounts are going extinct. don't go away.
[ male announcer ] wouldn't it be nice if there was an easier, less expensive option than a traditional lawyer? at legalzoom you get personalized services for your family and your business that's 100% guaranteed. so go to legalzoom.com today for personalized, affordable legal protection. nature valley trail mix bars are made with real ingredients you can see. like whole roaed nuts, chewy granola, and real fruit.
airlines are not the only ones winning on the bottom line. in the focus tonight, the most basic services. penalizing customers just for bringing in business. we have john ulzheimer from smartcredit.com. a huge piece in "the wall street journal." talking about the fact that there is no such thing as a free checking account anymore. we need to get used to this reality or do you think it's going to go back and the in the way of the consumer at some point? >> no, that's interesting. this step seems to ebb and flow. a lot of banks were implementing fees on debit cards and the consumers were outraged. all of a sudden, the banks acquiesced and stopped charging fees. it was a matter of time when the heat died down before they tried to implement something new to help cover the bottom line, if you will. this time, it is the elimination of the free checking account. keep in mind that checking accounts are not terribly portable. we get used to having an account
with a certain bank. we have checks and debit cards and automatic traps and deposit. it's not very easy to move your money, which is whether banks are implementing fees. they realize that they can still charge $799 per month spume that's exactly what they're doing. if you look at the surveys, 82% want to talk about those making $70,000 or more -- that person says that they will pull from the bank but they don't. you say you leave, but he won't. the banks know that. don't they already have us? >> everybody likes to play internet tough guy on those types of surveys. when it comes down to doing something, a lot of people realize that what i pay for your free checking account in fees is less than a day on the bar top on one night out.
if they hit you with $75 per month in fees, well, i don't know. they hit you with an abuse of the of $75 per month, if they just, -- it's usually the big banks and fomenting beasties. most of these have free checking. we have to be willing to go into this. cheryl: they know this. >> that's exactly right. they have massive networks. you are right, by and large, we are willing to pay for having an
atm at chase bank at every corner. some of us grew up in the internet era and we are willing to take your business online and do businesses and to deal with the inconvenience of atm machines or not use them in awe to so we can get free checking. it's a matter the checking. it's a matter of where mr. johnson would be wrong. you want convenience and location were free? that's what you have to decide as a consumer. who do you blame? who we all blame? >> regulators are the banks themselves? >> we don't want things that are struggling. we invest in these banks and mutual funds and four o. one kays. we need healthy banks. at the end of the day, they're going to have to subsidize the cost of compliance and it comes from me and you. there's a plausible argument.
cheryl: it's like eating broccoli. thank you very much, john. >> you bet we want the glitz and glamour of enemies on sunday night. more than 13 million people tuned in. big winners are homeland and modern family, we thought we would look at the highest paid actors and actresses on the small screen. number five is actually a three-way tie for the stars of gray's anatomy. they each make $350,000 an episode. that total is nearly eight and point -- eight and a half million dollars. number three is mark harmon from ntis. $12 million he makes for years.
number two, recent emmy winner jon pryor. prior. he takes home 600 grand per episode. his show returns for season 10. the number-one highest-paid tv actor is, ashton kutcher. he just renewed his contract with cbs to help them earn 700 grand per episode. that totals nearly $70 million per year. these are the highest actors and actresses. judged by what are your, and she has the world's big beautiful house right here in the area. coming back with an answer to our question of the day [ male announcer ] how do you trade?
with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. syou know, i've helped a lot off people save a lot of money.. but today...( sfx: loud noise of large metal object hitting the ground) things have been a little strange. (sfx: sound of piano smashing) roadrunner: meep meep. meep meep? (sfx: loud thud sound) what a strange place. geico®. fifteen minutes could save you fifteen percent or more on car insurance.
♪ gerri: speaking to the united nations today, president obama repeating his administration's support for the arab sprint calling it a season of progress. with all the recent violence and unrest, do you agree? here is what some of your posting on the facebook page. nope. the events over the past weeks have proven that there is no progress and their just one and sent away from chaos. marty degrees burning the american flag, a season of progress, said he is in a season of delusion. we asked this question over at gerriwillis.com. 1 percent said yes. 99 percent of you said no. also, here are some of your e-mails use in dan. i want of a world where my grandchildren can breathe fresh air, not the polluted stuff, pro-business people who did not want to clean up their act.
i want my grandchildren to be a will to go camping and not have an oil well in the middle of a campground. republicans put that kind of effort into alternative energy it might be something big to be proud of. marilyn from kentucky is fired up. we have followed the plan for the last four years, and it has not worked. really all romney has to say is i'm not obama. i will be spending taxpayer money to stimulate the economy. i will encourage the private sector to spend their money. all right. well, thank you for the opinions. final thought on education. we heard from experts on the show. the studies reported on, kids are not learning what they need to act. not prepared for college much less left after school. but as is often the case, some are taking this problem too far. as a new push to make kindergarten tougher, yes, kindergarten. a standardized tests are popping up in classrooms full 05-year-old smith. these exams are meant to determine whether they are on track to it succeed in college and career